Seoul, Korea - His Excellency, Trade Minister of the Republic of Korea Kim Hyun-chong, met with His Excellencies, Eladio Loizaga for Paraguay, in charge of the Pro Temporary Presidency, Aloysio Nunes Ferreira Filho for Brazil and Rodolfo Nin Novoa for Uruguay, Foreign Ministers of the MERCOSUR Member States, the Minister of Industry, Foreign Trade and Services of the Federative Republic of Brazil, Marcos Jorge de Lima, and The Secretary for International Economic Relations of Argentina, Horacio Reyser, in Seoul on May 25, 2018.
At the conclusion of their meeting, the Ministers agreed as follows:
Joint Statement on the Launch of Negotiation toward a Trade Agreement between the Argentine Republic, the Federative Republic of Brazil, the Republic of Paraguay and the Oriental Republic of Uruguay, the MERCOSUR Member States and the Republic of Korea.
The Ministers agreed to start negotiations for a Trade Agreement between the Republic of Korea and MERCOSUR. This represents a significant step toward deepening the important relationship between the MERCOSUR Member States and the Republic of Korea.
The Ministers underscored the opportunity that a commercially meaningful agreement presents for the mutual benefit of the Republic of Korea and MERCOSUR. Strengthening ties through enhanced trade and investment flows is an expression of our shared interest in prosperity and shared commitment to trade liberalization and open markets.